Interesting charts November 20th
Korean Won to 1 US Dollar – As one of the Japan’s major regional competitors South Korea cannot afford for the Won to appreciate while the Yen is declining. The Dollar rallied to break a three year progression of lower rally highs by September, found support in the region of the 200-day MA from October and continues to extend the rebound. While increasingly overbought in the short-term a sustained move below the trend mean would be required to question medium-term upside potential.
FTSE 250 Midcaps – Has unwound the short-term oversold condition and is now testing the progression of lower rally highs evident since the February peak. A sustained move above 16,000 will be required to signal a return to demand dominance beyond the short term.
South Africa FTSE/JSE All Share – pulled back sharply today from the region of the psychological 50,000 and will need to hold the low near 46,000 if medium-term top formation completion is to be avoided.
